Supply chain digitization and corporate maturity mismatch: Evidence from a quasi-natural experiment

IF 4.8 2区经济学 Q1 BUSINESS, FINANCE

Pacific-Basin Finance Journal Pub Date : 2024-08-30 DOI:10.1016/j.pacfin.2024.102514

引用次数: 0

Abstract

This paper examines the impact of supply chain digitization on corporate maturity mismatch by exploiting a quasi-natural experiment in China. We find that the digital transformation of supply chain effectively reduces corporate maturity mismatch, with mitigating information asymmetry and optimizing business decisions being the primary mechanisms. The effect is more significant when firms are facing more severe financing constraints and are in the downstream of the supply chain. Overall, this study contributes to the existing literature on corporate debt structure and the digital supply chain practices.

查看原文本刊更多论文

供应链数字化与企业成熟度错配：来自准自然实验的证据

本文通过在中国进行准自然实验，研究了供应链数字化对企业成熟度错配的影响。我们发现，供应链数字化转型能有效减少企业成熟度错配，而缓解信息不对称和优化商业决策是其主要机制。当企业面临更严重的融资约束且处于供应链下游时，其效果更为显著。总之，本研究为现有关于企业债务结构和数字供应链实践的文献做出了贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Pacific-Basin Finance Journal BUSINESS, FINANCE-

CiteScore

6.80

自引率

6.50%

发文量

157

期刊介绍： The Pacific-Basin Finance Journal is aimed at providing a specialized forum for the publication of academic research on capital markets of the Asia-Pacific countries. Primary emphasis will be placed on the highest quality empirical and theoretical research in the following areas: • Market Micro-structure; • Investment and Portfolio Management; • Theories of Market Equilibrium; • Valuation of Financial and Real Assets; • Behavior of Asset Prices in Financial Sectors; • Normative Theory of Financial Management; • Capital Markets of Development; • Market Mechanisms.